Benefit of demonetization according to Narendra modi

A report from the Reserve Bank of India on August 29, 2018, said that after the demonetization, nearly 99.3% of old notes came back. After this the questions arise on the Central Government and People started saying that there was no use of demonetization But in response to an RTI, there is such a thing that is telling a benefit of demonetization. INDIA TODAY put an RTI, asking the Reserve Bank of India note printing Ltd to calculate the cost of printing a note of 10,20,50,100,500 and 2000. Answering this, he gave these figures -

Printing cost of a note of 10 rupees - 1.01 Rs

Printing cost of a note of 20 rupees - 1 Rs

Printing cost of a note of 50 rupees - 1.01 Rs

Printing cost of a note of 100 rupees - Rs. 1.51 Rs

Printing cost of a note of 500 rupees - 2.57 Rs

Printing cost of Rs. 2000 rupees - Rs. 4.18 Rs

Now you might be thinking that what is meant by demonetization on all this and its benefits. In fact, the same RTI was also asked about the cost of printing notes of 500 and 1000 rupees running before the demonetization on printing. In response to this, the RBI said that the cost to print the notes of the old 500 was 3.09 and the note of 1000 was printed at 3.54 rupees. Now 1000 notes are missing. Printing of the new 500 note is 52 paise from the old note.

This means the government will save 52 paise on every note that will print the 500 notes. According to the Annual Report of the Reserve Bank, 15.1 million notes of 500 means that 1.51 million notes are in circulation. The printing of every note benefited 52 paise. That means if the notes of such old 500 were printed, then it would be 1,51,00,000 * 0.52 = 78,52,000 rupees more. With these new notes the government saved 78,52,000 rupees. Even if the government wants, they can count a long term benefit of demonetization.